Bridge Applies for National Bank Trust Charter via OCC

Bridge, a stablecoin infrastructure company acquired by Stripe for $1.1 billion in October 2024, has applied for a national bank trust charter with the Office of the Comptroller of the Currency (OCC). The application seeks to establish a national trust bank, allowing Bridge to issue, redeem, and custody stablecoins under a unified federal framework.

Co-founder Zach Abrams stated that the charter would move the firm under federal regulatory oversight and provide the infrastructure needed to tokenize trillions of dollars. By securing a federal charter, Bridge aims to bypass the requirement for individual state-level money-transmitter licenses. The company intends to operate under the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which requires issuers to maintain 100% reserves in cash or Treasuries and provide monthly disclosures.

This move follows a growing trend of cryptocurrency firms seeking federal oversight as the stablecoin asset class grows toward $300 billion. Bridge joins other major industry players, including Circle, Paxos, Ripple, and Coinbase, in applying for national trust licenses to regulate their respective reserves and operations.